Packaging Co. of America (NYSE:PKG) Cut to Hold at StockNews.com

Packaging Co. of America (NYSE:PKG) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Other analysts have also issued research reports about the company. Citigroup increased their price objective on Packaging Co. of America from $199.00 to $221.00 and gave the company a “neutral” rating in a report on Wednesday, October 2nd. Truist Financial restated a “buy” rating and set a $252.00 price target (up previously from $242.00) on shares of Packaging Co. of America in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price objective on shares of Packaging Co. of America from $235.00 to $253.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $221.60.

Packaging Co. of America Trading Up 0.1 %

Shares of NYSE PKG opened at $238.31 on Wednesday. The business has a fifty day moving average price of $222.57 and a 200 day moving average price of $201.18. Packaging Co. of America has a 1-year low of $148.50 and a 1-year high of $245.00. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.95 and a quick ratio of 1.98. The stock has a market capitalization of $21.40 billion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 3.31 and a beta of 0.76.

Packaging Co. of America (NYSE:PKG) last released its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.50 by $0.15. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.09 billion. Packaging Co. of America had a net margin of 9.46% and a return on equity of 19.10%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. Equities research analysts expect that Packaging Co. of America will post 9.07 EPS for the current fiscal year.

Insider Transactions at Packaging Co. of America

In other Packaging Co. of America news, SVP Donald R. Shirley sold 8,000 shares of Packaging Co. of America stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $240.20, for a total value of $1,921,600.00. Following the completion of the transaction, the senior vice president now owns 15,725 shares of the company’s stock, valued at approximately $3,777,145. The trade was a 33.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert P. Mundy sold 12,500 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $240.62, for a total transaction of $3,007,750.00. Following the sale, the chief financial officer now directly owns 43,954 shares in the company, valued at approximately $10,576,211.48. The trade was a 22.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Packaging Co. of America

A number of institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC increased its stake in shares of Packaging Co. of America by 200.0% during the second quarter. Asset Dedication LLC now owns 168 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 112 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Packaging Co. of America during the third quarter valued at approximately $32,000. Tortoise Investment Management LLC purchased a new position in shares of Packaging Co. of America in the second quarter valued at approximately $33,000. Larson Financial Group LLC boosted its stake in shares of Packaging Co. of America by 234.7% in the third quarter. Larson Financial Group LLC now owns 164 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of Packaging Co. of America during the second quarter worth approximately $50,000. Institutional investors and hedge funds own 89.78% of the company’s stock.

About Packaging Co. of America

Packaging Corporation of America manufactures and sells containerboard and corrugated packaging products in the United States. The company operates through three segments: Packaging, Paper, and Corporate and Other. The Packaging segment offers various containerboard and corrugated packaging products, such as conventional shipping containers used to protect and transport manufactured goods; multi-color boxes and displays that help to merchandise the packaged product in retail locations; and honeycomb protective packaging products, as well as packaging for meat, fresh fruit and vegetables, processed food, beverages, and other industrial and consumer products.